Under the deal, Ventas will own 10 hospital properties, which have a combined 2,045 beds. Ventas intends to separate their hospital operations into entities that will be owned by current Ardent management, along with other equity sources, which will hold long-term leases with Ventas.
The transaction is expected to close mid-year 2015.
In a conference call Monday, Ventas Chairman and CEO Debra A. Cafaro said, “We’ve been waiting a long time to find the right entry point into the U.S. hospital market because of its strong improving trends, and we’ve been very selective. Ardent is the deal we’ve been waiting for,” according to a Bloomberg report.
After the acquisition announcement was made Monday morning, shares of Ventas jumped 5.3 percent to $77.13 per share, according to Bloomberg.
More articles on healthcare industry transactions:
Details of Wellmont, Mountain States merger released
Clifton Springs Hospital & Clinic joins Rochester Regional Health System
Robinson Health System to join University Hospitals
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